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Autodesk 3Q Net Jumps 82%; Shares Down As EPS Views Cautious

DOW JONES NEWSWIRES Autodesk Inc.'s (ADSK) fiscal third-quarter profit jumped 82% as revenue rose and margins surged. But shares slumped 4.7% to $34.55 in recent after-hours trading as the company forecast a fourth-quarter profit of 30 cents to 33 cents a share on $500 million to $520 million in revenue. Analysts had forecast 34 cents and $502 million, respectively. The maker of the popular AutoCAD design software used by engineers and architects has seen sales pick up in recent quarters, reversing a previous trend of declines amid the global downturn. Recent architecture billings and other data suggest a positive demand environment for its software licenses this year, according to a Jefferies note this week. For the quarter ended Oct. 31, Autodesk reported a profit of $53.6 million, or 23 cents a share, up from $29.5 million, or 13 cents a share, a year earlier. Excluding items such as stock-based compensation, earnings rose to 32 cents from 26 cents. Revenue jumped 14% to $476.7 million, following last year's 31% plunge. In August, the comany forecast earnings of 28 cents to 33 cents on $450 million to $475 million in revenue. Operating margin surged to 14.5% from 6.3% amid higher revenue and lower stock-based compensation expenses and the absence of restructuring charges in the latest quarter. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Autodesk (ADSK)
DateTimeHeadline
05/21/201509:00:00Autodesk Cloud Offerings Achieve Milestone in FedRAMP Compliance...
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201516:01:46Current Report Filing (8-k)
05/19/201516:01:00Autodesk Reports Solid Q1; Strong Subscriptions Growth
05/03/201512:01:13This Technology Could Revolutionize How Electronics Are Made
05/02/201514:14:02Carbon3D CEO Interview: "Materials Are Key" to Breakthrough CLIP...
05/01/201518:48:52Autodesk Upgraded to "Outperform" by Pacific Crest (ADSK)
05/01/201516:21:40Additional Proxy Soliciting Materials (definitive) (defa14a)
05/01/201508:30:00Autodesk Extends Invitation to Join Financial Results Conference...
04/30/201514:00:00Autodesk Accelerates the Future of Digital and Physical 3D Creation...
04/30/201507:46:06Autodesk Receives Mixed Rating from OTR Global (ADSK)
04/29/201506:05:16Additional Proxy Soliciting Materials (definitive) (defa14a)
04/29/201506:05:16Proxy Statement (definitive) (def 14a)
04/26/201509:32:02Carbon3D's CEO Discusses Its Breakthrough CLIP 3D Printing Tech?
04/21/201517:03:05Companies Trade Suburbs for City Life
04/20/201508:00:00Autodesk and Mattel Team Up to Bring New Digital and 3D Printing...
04/13/201512:30:57Watch Out, 3D Systems and Stratasys -- Carbon3D's Super-Speedy...
04/13/201509:00:00Autodesk 2016 Design & Creation Suites Now Available
04/09/201508:00:00Autodesk Backs Carbon3D With $10 Million From Spark Investment...
04/03/201516:09:34Statement of Changes in Beneficial Ownership (4)

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